Fun

News Feed - 2023-08-29 08:08:00

Jesse Coghlan34 minutes agoCrypto bull run: Traders share their plans for the ‘tornado’ to comeMillions of new crypto investors could be experiencing their very first bull run soon, and those who’ve been through it have shared how they plan to tackle it.436 Total views11 Total sharesListen to article 0:00InterviewJoin us on social networksWith as much as 130 million people introduced to cryptocurrencies since the end of 2021, millions of investors could soon be looking at their first cryptobull run, with some suggesting it could come as early as 2024.


However, unlike the current bear market, a bull market is “unlike anything else you"ve ever experienced” according to Ben Simpson, founder of education platform Collective Shift.“It"s complete and utter chaos. It"s just a tornado.”


In August, Cointelegraph spoke to hedge fund managers, heads of research at digital asset companies, and other crypto traders to understand how they’re preparing for the upcoming bull market and some of the learnings they could pass onto newcomers.Get in, get out


Simpson said one of the biggest mistakes that new crypto traders make is holding onto their crypto bags too long — most often caused by getting caught up in the euphoria that they could make more.“My first cycle, I didn"t have a plan. I rode it up and rode it all the way down back in 2017.”


Instead, Simpson said it could be helpful for investors and traders to write down a clear investment goal and understand what assets are in their portfolios — with a hard-set sell price for each one.


Setting hard market exits may reduce the possibility of losing on an investment as “once the music stops in a bull market it stops really quickly,” said Simpson.There are literally tumbleweeds rolling across Crypto right now.

No Engagement

No Price movements

No interest

No investments

I suspect a big move is coming soon.

Prepare accordingly.— Ben Simpson (@bensimpsonau) August 16, 2023


On the same note, CoinShares head of research James Butterfill told Cointelegraph that dollar-cost averaging — periodic small asset purchases or holdings sales — could mitigate the volatility of cryptocurrencies, whether it"s a bull or bear market. 


“Implementing dollar-cost averaging can help lower the average purchase cost and diminish the influence of volatility on one"s portfolio,” Butterfill said.Avoid memecoins


CK Zheng, co-founder and CIO of hedge fund manager ZX Squared Capital recommends investors to look into the more well-established and recognized cryptocurrencies, such as Bitcoin (BTC) and Ether (ETH).


Butterfill argued Bitcoin behaves similarly to other alternative assets and has “remarkable diversification benefits, surpassing assets like gold, commodities or real estate.”Bitcoin vs "top altcoins" from 2013.

Bitcoin the honey badger. $BTC #bitcoin pic.twitter.com/fP2SNClsE5— James Todaro, MD (@JamesTodaroMD) August 21, 2019


Meanwhile, Deryck Graham, founder of crypto hedge fund Portal AM said to consider balancing investments between speculative and mature cryptocurrencies.


Graham added to break down investment sectors — such as Layer 2’s or the Metaverse — and choose related tokens while avoiding those with “little or no practical use,” namely memecoins.


“Consider tokenomics, dev team track record, whale investors coming in and leaving, community size, market momentum and liquidity,” he added.Find the theme


Matrixport head of research and Crypto Titans author Markus Thielen told Cointelegraph that Bitcoin has “always hit a new high” in a booming market but added new themes drive new bull markets — supporting the idea of investing in new cryptocurrencies instead of those from the previous bull run.


Related:2024 could be very bullish for crypto — Here’s why


At the same timeSimpson said having high-conviction investments will help with staying on goal as most will have “no chance” of keeping up with a portfolio of altcoins.“I spoke to a guy the other day that has 80 altcoins in his portfolio. There"s no way an individual investor can stay across and know exactly what 80 different coins are doing at any one time.”


Simpson, Zheng and Graham all warned against overexposure to crypto through taking loans to invest in the market, investing more than a person can afford to lose or trading using leverage.Investing $1000 in 4 Crypto Assets > $100 in 40 Crypto Assets

With the 2nd strategy, you are spreading yourself too thin, far lower chance of succeeding.

And you have no idea what any of those 40 coins actually do.

Which means you"re not making logical decisions.

You"re…— Ben Simpson (@bensimpsonau) August 22, 2023


“A leveraged position can result in a total wipeout of capital when one is least prepared,” Zheng said. “It"s important to have the mindset of investment, not speculation.”


Simpson added it’s important to have time away from crypto and watching markets. He advised both trading veterans and newcomers to safeguard their mental health.“Go for regular walks. Go for a run. Go to the gym. Be a human.”


Magazine: How smart people invest in dumb memecoins — 3-point plan for success


This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.# Altcoin# Interview# DeFi# TradingAdd reactionAdd reactionRead moreWho invented NFTs?: A brief history of nonfungible tokens5 strategies to mitigate side channel attacks on cryptocurrency hardware walletsThe future of BTC mining and the Bitcoin halving

News Feed

Microsoft Reveals Activision Purchase for $68.7 Billion as an Approach to the Metaverse
Microsoft Reveals Activision Purchase for $68.7 Billion as an Approach to the Metaverse Microsoft, the software behemoth, announced today it had completed a deal to acquire Activis
US Inflation Skyrockets, 64% of Americans Live Paycheck to Paycheck, S&P 500 Chart Shows Death Cross Imminent
US Inflation Skyrockets, 64% of Americans Live Paycheck to Paycheck, S&P 500 Chart Shows Death Cross Imminent Inflation continues to rear its ugly head in the lives of Americans, a
90% of Bitcoin ETF inflows are still retail — VanEck CEO
Gareth Jenkinson31 minutes ago90% of Bitcoin ETF inflows are still retail — VanEck CEOThe CEO of investment management firm VanEck says spot Bitcoin ETFs have mainly attracted inflows of capital from retail investors f
Report: Constitutional Court Says Central African Republic’s Sango-Coin-for-Citizenship Scheme Is Illegal
Report: Constitutional Court Says Central African Republic"s Sango-Coin-for-Citizenship Scheme Is Illegal A constitutional court in the Central African Republic has reportedly rule
Janet Yellen Says ‘Critical’ to Establish Strong Crypto Regulation — ‘We Haven’t Suggested Outright Banning’
Janet Yellen Says "Critical" to Establish Strong Crypto Regulation — "We Haven"t Suggested Outright Banning" U.S. Treasury Secretary Janet Yellen says “it is critical to pu
Bitcoin weakness spurs $441M digital asset inflows
Savannah Fortis13 hours agoBitcoin weakness spurs $441M digital asset inflowsDigital asset investments see significant inflows of $441 million, driven by Bitcoin price weakness, Mt. Gox activity and a German government s
Ransomware Revenue Drops as Victims Pay Less Often, Chainalysis Reports
Ransomware Revenue Drops as Victims Pay Less Often, Chainalysis Reports While the number of ransomware hits may not have decreased significantly, the revenue from such attacks has
Crypto Biz: The return of Web3 gaming, Binance appoints board, and more
Ana Paula Pereira3 hours agoCrypto Biz: The return of Web3 gaming, Binance appoints board, and moreThis week’s Crypto Biz explores the gaming industry’s renewed optimism, Binance’s first board of directors, Paradig
Regulators postpone listing decision for Hashdex Nasdaq Crypto Index ETF
Alex O’Donnell7 hours agoRegulators postpone listing decision for Hashdex Nasdaq Crypto Index ETFIf approved, the ETF would be the first US fund to hold a diversified portfolio of spot cryptocurrencies.3600 Total views
BREAKING: BitMEX Fined $100 Million For US Money-Laundering Violations
Federal judge John G. Koeltl has directedBitMEX to pay a $100 million fine, representing the latest development in an ongoing legal dispute regarding money laundering infractions in the US. BitMEX Faces Major Legal Setba
Porn Industry Thrives During Lockdown — These Sites Are Cryptocurrency-Friendly
Porn Industry Thrives During Lockdown — These Sites Are Cryptocurrency-Friendly Porn sites have been experiencing increased traffic as the number of people under lockdown or qu
Turner Wright3 hours agoBittrex Global announces all trading will be disabled as it winds down operationsThe announcement came roughly nine months after U.S.-based crypto exchange Bittrex said it would shutter operations